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Japan's Coincheck posts $433 million writedown in year to March

Reuters  |  TOKYO 

TOKYO (Reuters) - Japanese cryptocurrency exchange Coincheck Inc recorded an estimated writedown of 47.3 billion yen ($432.56 million) for the year ended March, its parent Monex Group Inc said on Thursday.The extraordinary loss dragged Coincheck's estimated pretax profit to 6.3 billion yen on sales of 62.6 billion yen, Monex said in a statement, without giving further details of the loss. The results were the first glimpse of Coincheck's earnings after the exchange was hit by a massive theft of digital money earlier this year, and offer a rare look at the finances of a cryptocurrency ...

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First Published: Thu, April 26 2018. 09:56 IST